The Indian government Budgetary proposal that jewellery consumers who purchase above Rs.1 lakh must present their PAN cards, was opposed by jewelers who also threatened a strike. Recently, traders in Delhi abstained from conducting business, following which the bullion market remained closed on 25th March, reports say.

The argument is that the ruling would reduce their business significantly, and also affect consumers. Also, many of the people especially in the rural areas are not under the tax bracket as they are farmers, and so are not required to own a PAN card, reports say.